Wikipedia is more trustworthy than I am (they same the same about it being more about ritual than belief). I don't remember anything about the 5th element but wikipedia says that is there too. What we did was apparently "casting the circle" and I sat on the east side (or facing the east, I can't remember) and read something about wind and slyphs. I recall thinking that being born with air as my element should imply that I had more control over the air/wind, but that's probably the 14-year-old version.