Create monitor from API collection?

My question:
Can I create a Monitor for my Collection that is within my API?

Details (like screenshots):
We are starting to create our first API (we have many workspaces and collections, but this would be our first API-first effort)
At the top level for the API I was expecting to see options like {Overview, Definition, Documentation, Test, Deployments, Monitoring} as in this video: Deploy, Monitor and Test an API in 10 Minutes
There is a section for Test and Automation, when I click that I see my Collections in the API.
I can then click ‘Run’ for one of them, which allows me to Schedule a run. But I must first copy the Collection to a Workspace? Am I misunderstanding this, I need to have the Collection also live outside the API to utilize a Monitor?


Thank you for any guidance.