This is a basically an Elrond solo deck, with Eowyn and Denethor there to back him up.
Opening hand: A handful of expensive allies means death in the early game. Mulligan your way out of that, hopefully into a Light of Valinor, Vilya, or Unexpected Courage. Failing that, a Master of the Forge or Imladris Stargazer can help you get Elrond powered up. Any expensive allies left in your hand can be discarded to Eowyn's questing, one by one.
Despite Elrond's high defense and hit points, Denethor will be your primary defender. Once Arwen Undómiel is on the table, he can defend for 4, and a A Burning Brand means no shadow will threaten his paltry hit points. If he does take a couple hits, the Warden of Healing combos with Elrond's healing abilities to remove Denethor's damage in one fell swoop. When he's not defending, his scrying, along with that of Henamarth Riversong, can help you get the jump on the encounter deck.
Eventually, you want Light, Vilya, and Courage on Elrond. He can start the round by bringing in a high-cost ally into play (the number of allies in this deck makes a blind grab pretty successful, but you can remove the guesswork by using either Stargazer or Gildor Inglorion). Ready him up to quest for a solid 3 without exhausting, then either defend a heavy-hitting enemy or lend a couple attack points to another character. Once you have Faramir and a couple of big attackers (like Knight of Minas Tirith, Boromir, Veteran of Nanduhirion, or Anborn) on the table, no enemy can withstand you!