This is written as reading all runes on a given line, left to right. I don't really have an idea of what's going on, since I remember neither snakes nor spiders in LOTR (albeit I never read it), but this is what I see from the runes. Honestly made up a story after investigating what each rune could be, but that seems to be the point with no key, right?
hourglass, anvil?, ?, pitchfork, "snake", advance, the Eye, advance, ?, star, symbol(reminds me of a badge or crest of a peoples), ?, "spider web", the Eye, anvil?, scythe, wizard/scythe wielder, knight, knight.
After waiting ..... the rebel forces of the Eye summoned snake-like creatures to advance upon the shining army. Large spiders joined the fray to aid the snakes, resulting in the death of many men.
wizard/scythe wielder, enclave?, man, advance, night, scythe, ?, pitchfork, snake, symbol, web, hourglass, ?, symbol, target, chest, enclave?, hourglass, ?, man.
The army waited until nightfall to bring death to the snakes. The shining army also joined in the surprise attack, but was flanked by the spiders. As the battle dragged out, a victor was beginning to emerge: the race of man. Loot was at the end of the tunnel, but there were other men to think about.
cross, symbol, man, ?, target, pitchfork, man, advance, ?, scythe, man, ?, ?, hourglass, ?, ?, eclipse, symbol, ?, ?, the Eye.
They had to bury their dead before true victory could be claimed- such was the way of the shining army. The amount of dead was unusually high- this angered the men, and they began to train in the field. However, their training was cut short from the alarming cries- the sun was disappearing! An eclipse was under way, and the army was shrouded in darkness. The Eye saw a chance.
sun or egg, symbol, pitchfork, wizard/scythe wielder, knight, knight, wizard/scythe wielder, symbol, eye, scythe, ?, man, symbol, buff, ?, eye, advance, ?, egg or sun, moon.
With the blackout, the shining army made a last stand- they knew they were at their weakest point. An incredible battle ensued, with death at every corner. The Eye would get the upper hand, but the army would hold its ground. The battle carried on until true nightfall.
?, advance, ?, knight, ?, symbol, ?, shield, man, advance, egg or sun, ?, knight, symbol, man, egg or sun, ?, knight, advance. moon, advance, man, shield, ?.
With major losses on both sides, it was time for the last push. The strategy entailed multiple steps. They shielded a runner to destroy what appeared to be a dragon's egg- if that thing hatched, the army would be obliterated. With info on the egg, the army closed in. As night turn back to day, the battle had drawn to a close. To the victor goes the spoils, and what can I say? What was left standing was the shield.