Yes this is possible, in your app go to "Environments", then click on "Details" of the environment of which you want to change the log levels. After this you have a tab "Loglevels" where you can set the specific loglevel of the lognode which you want to change:
That's cause you're running in a free version. But it's still possible by going to "View Live Log" and than you have the option "Displayed Log Levels" on the top right. There you can enable debug/trace as well.
I don't see those options?