The menstrual cycle involves four main phases:
1) Menstruation - the shedding of the uterine lining over 3-7 days.
2) The follicular phase - development of follicles and eggs stimulated by FSH until ovulation around day 14.
3) Ovulation - release of a mature egg around day 14.
4) The luteal phase - the corpus luteum forms and secretes progesterone and estrogen to thicken the uterine lining to prepare for potential implantation until menstruation begins again if implantation does not occur.