Elhaz, Eiwaz or Eolh a most powerful rune of magical protection comes fifteenth in the rune row.  

Its shape symbolises the stupendous resistant power of the Elk.  It also represent the splayed fingers of a 'warding off hand', and the shape of the herb elk-sedge or elongated sedge.
It is a powerful rune of protection and spiritually, it symbolises reaching up to the divine.  Elhaz also has the idea of success through endeavour in a hunt, quest, or other enterprise.

Reversed:  is a sign of vulnerability, of sacrifice with no personal gain.  Being deceived or misled by others.  All your hard work is for their benefit not yours.  Often you will be made a scape goat for other peoples failures.

(combination of Nigel Pennick Rune Magic, David V. Barrett Runes and Lisa Peschel A practical guide to The Runes)

Elhaz to me means a highly protective magical rune.  It can be used in protecting yourself by visualising the rune enveloping you in white light.  It is a rune that deals with your higher self spirituality, and feeling safe.

Reversed:  Elhaz means hold off any plans or business deals for the moment until you know who you are going to be working with.  Ensure that you have protected yourself and be very careful when dealing with people you do not know.

My problem with this rune is that I can't get passed the protectiveness and spirituality of it to see anything else about it when it is up right.  

Only add to, or discuss your views on this rune...please