there definitely is, but I find finding that first point is hardest, i prefer channels with the median line
....es hourly...1108 looking good for a short? ....and never....never...get rid of the median lines....ever
I wouldn't short that uptrend since the uptrend line hasn't been broken yet. It may provide lots of support when encountered. What's more, there's a round number (1100) near the uptrend line that needs to be penetrated. If the uptrend line is broken all hell would be breaking loose and that newly formed downtrend channel should be your guide.
ES channel action. Remember what I said about all hell breaking loose when the uptrend line was broken? Sell the rallies now.