As He you are in a comfortable starting position a part Imladris, no enemies around you, Eriador starts as your ally and the dwarves will become as well if give them something in exchange. First step is conquer the rebel settlement north of Mithlond that probably is called Lunelaith or something similar; then, pumping taxation to the highest level, you can build up your weak economy quite relaxed, starting from smallest settlements first (less money to do that). Build as many as possible watch towers you can along your borders to survey your allies. South of your main domains you have to conquest the rebel settlements of Eryn Vorn, Lond Angren and Lond Daer; doing that you will cut three possible target to the Isengard's expansion that surely happens in the first 30/40 turns. Initially you must be quick, you won't need full stack to do that, the mighty of HE will allow you to move with an Half stack, most of them light archers.
Your worst position is in the east, your capital, Imladris, where you will be soon attacked by OOMM; don't worry about that a good army and some watch-towers will let you control the situation. I think that here a good strategy is to take mitheitel region west of Imladris and Ost-in-Ghil south as soon as you can, it would be better if the last one was conquered first by OOMM which you are at war yet instead of Isengard, delay the war against them for the first 30/40 turns if you can. When you will be pretty comfortable with your situation, I think you have to manage two full stacks: one south against Isengard to help Rohan (make alliance with them and give Byrig, Dunland once you have taken) and the second one by sea to help Gondor under siege by both Mordor and Harad.
Always sack the settlements you conquer and destroy all the evil buildings to make money for your upgrades. As Elf faction there will be no great differencies between cities and castles. Take care about Trolls, they are the strongest evil units I have seen, arrows don't work against them especially against Olog-Hai. Merchants doesn't exists. Don't waste your money upgrading armories. I always play without any sub-mods and no cheats. Enjoy!!!
