We can praise the Lord, simply because of Who He is. It doesn't matter what is going on in my life - God is still good. That is His nature. And, since that is His nature, I can trust that all that He does in my life will be good for me as well. While waiting on Him for the outcome, I can praise the LORD, for He truly is great, and high above anything else that can be compared to Him.
"Praise ye the LORD. Praise ye the name of the LORD; praise him, O ye servants of the LORD. ... For I know that the LORD is great, and that our Lord is above all gods. Whatsoever the LORD pleased, that did he in heaven, and in earth, in the seas, and all deep places." (Psalm 135:1, 5-6)