I will praise thee for ever, because thou hast done it: and I will wait on thy name; for it is good before thy saints.
I will praise thee for ever, because thou hast done (it). Faith anticipates in hope the deliverance as already accomplished, and praises God beforehand for it (2 Chronicles 20:19-22).
And I will wait on thy name - in all my troubles hereafter, making thee in thy manifested power, goodness, and wisdom, my hope. Compare on God's name, Psalms 20:1.
For (it is) good before thy saints. It is "good" to the edification of the "saints" to see my hopeful trust in thy name amidst troubles. It encourages them to 'exercise the same trust in trial' (DeBurgh). Rather, as the parallel Psalms 54:6 proves, connect, 'I will wait on thy name (for it-thy name-is good) before thy saints.' I will let my waiting on thy gracious name be seen before thy saints for their edification.