A classic breakout channel from the ES and the (ARCA:SPY) 3-year price channel is shown on the chart above. The 3-year price channel is bright blue. The breakout channel is red.
Things seldom work out this perfectly. For example, ES may not make it to the top of the potential red channel before a partial retrace into the body of the blue channel. And it would often retrace a little further than shown, to force a redraw of the potential red channel.
Also, the price can break out from the new red channel into an even steeper channel a lot faster than shown on the chart, depending on how exactly things play out.
And, of course, ES could fail to set up a breakout into a steeper channel.
But at this point you should draw the red channel on your chart to serve as a pair of rough guidelines. The bottom of the potential red channel should be the current trend line of the move up from the last touch on the blue channel bottom. The top of the red channel should be a parallel line connected to the previous touch on the blue channel top.