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But then, their own recommendation is to use "logrotate" instead of doing the rotation in the handler as you would have better performance.

If it is you decided to use Monolog's handler, it can be configured in /exponential/config/config.yml.

monolog:
    handlers:
        main:
            type: rotating_file
            max_files: 10
            path: "%kernel.logs_dir%/%kernel.environment%.log"
            level: debug