This might be a bit of a ramble so I apologise in advance but here are my general thoughts on this topic...
Nolva is the drug of choice for coaches looking for fat loss.
Its dosed around 10-20mg split 2x day for the last 4-5 weeks of prep all the way until the contest under the false belief that it helps with fat loss...this is a dumbass strategy generically applied by male coaches who are clueless about women.
Progesterone is actually the main enemy for women when it comes to losing those last few stubborn pounds. But even then it depends on what part of the luteal phase of her cycle she's on, pre/post menopause, whether she's on birth control (prog becomes the dominant hormone for about 75% of her cycle), etc.
Estrogen actually HELPS women lose fat due to some positive effects on fat oxidation, decreasing hunger, etc - basically estrogen seems to have the exact opposite effect in women that it does in men
Letro is the peak week drug of choice to reduce water retention estrogen causes and is certainly a viable strategy.
Certain parts of a woman's physique like the hips, legs glutes, etc contain a large % of estrogen receptors than others - letro can help lean out these areas that do tend to hold water.
Just be warned that that water will rebound pretty dramatically post-contest BUT it is only water, NOT fat. Many women go through a psychological nightmare because they assume its fat gain meta-bolic damage or some other BS - its water. Nothing more, nothing less.
There are too many variables involved for women to give set recommendations and I'm personally not a fan of messing around with estrogen levels but my advice would be to read up about the impact of different hormones and experiment from there.
Here is something to get you started:
Sex Hormone Effects on Body Fluid Regulation