Commodity trading: same principle?

Beginner Questions
1

I’m keen to get into trading commodities (mid-longer term such as Daily and weekly charts).

Questions is: how?.. Do the same principles from forex work for commodities? eg trendlines, PA, S/R, channels etc etc?

I literally can’t find any commodity trading strategies on the net which leads me to believe that maybe it’s just the same as forex?

Does anyone trade commodities profitably? Share your ideas and thoughts!

My current strategy in a nutshell: uses a 50SMA and focuses on pullbacks. Not sure if this will work for commodities?

2

The law of Supply and Demand :smiley:
Basically commodities are considered less sophisticated than currency pairs as less factors affect their price. They’re also less volatile as contracts are traded on exchanges, not OTC (we don’t take into account commodity CFD’s as their trading don’t affect the price even if their market volume would exceed the one on exchange).
Basically you can use fundamental analysis to trade commodities. Take Oil for example. OPEC said it freeze output on January levels - prices started to grow, Iran refused to join the accord - prices tumbled. Simple but quite effective if you understand what rumors get priced in market. I trade Oil CFD’s with Нotforex and make substantial profit as you just need to stay tuned with US reports and OPEC decisions to be profitable. Also scalping doesn’t work there IMO.
Here is a good article about basic principles of how it works What is Forex Trading and how it works? - Broker Arena