Your urine being clear is GOOD SIGN. You want it to be clear, that means you are getting enough fluids in your body and it is ridding of all the toxins within. You cannot die from drinking the amount of water you are currently consuming.
A spike in LH and FSH (LH surge) causes ovulation, following a suppression of GnRH. Estrogen levels continue to rise following ovulation and the corpus luteum forms, which secretes progesterone in significant levels and causes decreases in LH and FSH levels.
After the release of egg, the levels of FSH decrease while those of estrogen increase. Depending upon the occurrence of fertilization, the body either prepares for a pregnancy or a period. However, this is the scenario only when one is experiencing regular menstrual cycle or while one is in their fertility age.