This piece is in a single-part form: a (measures 1-8) + a1 (measures 9-16).

Since the tempo is indicated as "In waltz time," it should be performed with a sense of an effective 6/8 meter, treating every two measures as one unit. From measure 1 to measure 14, the G note continues in the upper voice of the right hand, functioning as a pedal point. (Measures 15-16 are not considered a pedal point as they consist of an arpeggiated line of the tonic chord (I).) Therefore, for chord identification in measures 3, 5, and 7, it is easier to consider this G note as a non-harmonic tone.

The theme generally features a graceful descending flow. The piece should be performed while maintaining a sense of meter and being mindful of the overall descending line.