Passage
Thou art my God, and I will give thanks unto thee: Thou art my God, I will exalt thee.
Thou art my God, and I will give thanks unto thee: Thou art my God, I will exalt thee.
Psalms 118:26 Blessed be he that cometh in the name of Jehovah: We have blessed you out of the house of Jehovah.
Psalms 118:27 Jehovah is God, and he hath given us light: Bind the sacrifice with cords, even unto the horns of the altar.
Psalms 118:28 Thou art my God, and I will give thanks unto thee: Thou art my God, I will exalt thee.
Psalms 118:29 Oh give thanks unto Jehovah; for he is good; For his lovingkindness [endureth] for ever. Psalm 119 ALEPH.
The verse centers on "thou", "give", "thanks", "thee", and "exalt". It is saying that the verse draws attention to "thou" and "give", so its meaning should be read from those terms before moving to application.
The nearby context moves from verse 27's "Jehovah is God and he hath given..." into verse 29's "Oh give thanks unto Jehovah for he...", so "thou" and "give" belong inside that flow. In Psalms context, the local focus is worship, trust, the LORD's kingship, and covenant mercy.
A plain takeaway is to answer the verse's own emphasis on "thou" and "give" with trust shaped by these words, not by a vague optimism outside the passage.