There are some great gems to pray with in this psalm. The opening line to lift our souls to the Lord, is a great start! Verses 4 and 5 are prayers for learning the ways of the Lord. Verses 6 and 7 appeal for mercy. In verse 12 those who fear (respect) God, He shows the way.
In this psalm each verse begins with a letter of the Hebrew alphabet in order. With this psalm we have mixes of pleas to God along with confidence in God who forgives and leads. Other letter combinations add to the thoughtfulness of this prayer.
Take time with this psalm as it covers so much ground in our conversation with God.
Walking In Peace 
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