The teachings of the five elements and the five phases of transformation (wǔxíng) is a Daoist theory for describing nature. It searches for regularities according to which dynamic transformation processes take place within the realm of the living. The five elements Wood, Earth, Water, Fire and Metal are derived from nature and stand for abstract properties.
How the trigrams of the I Ching are assigned to the five phases of transformation in the present interpretation model is explained in more detail here: Trigrams, Elements, Functional Circuits
Good fortune. Central notion of the traditional interpretation of the I Ching. Meaning: positive outcome, because all action happens in accordance with the Dao.
Meridian, pathway or channel through which, according to Traditional Chinese medicine (TCM), the life energy (Qi) flows.
There are twelve main channels, each of which is assigned to one organ system. On the meridians themselves, there are special points where – e.g. through needles (acupuncture) or finger pressure (acupressure) – the energy balance can be influenced.
Read more: https://en.wikipedia.org/wiki/Meridian_(Chinese_medicine)
Central notion of the traditional interpretation of the I Ching. Meaning: good for everybody/everything.