Using what I call AT (Amazing Trader) logic, key levels are the last key low that preceded a new high or the last key high that preceded a new low.
What I mean by a preceding low or high is an AT line.
If you look at this daily EURUSD chart, there were no red AT lines from 1.0949 => 1.1201.
This makes 1.0949 the preceding low/line ahead of the 1.1201 high and the key one on this chart.
The same logic can be used for shorter time frame trends.
But in any case, you can see why 1.0949 was more important than 1.1026 on a daily chart.
s always feel free to ask us any questions in the Q&A.