Read the poem through once without writing on it. Make sure that you understand the literal situation, and make a mental note of any metrical, imagistic or rhyme patterns or elements that stick out to you.
Read the poem again. With your pencil, mark the stressed syllables in each line by placing a short vertical line above the stressed section of the word. Count how many stresses exist in each line to get a feel of the poem's meter.
Mark any rhymes or rhyme patterns using corresponding lowercase letters placed at the end of each line. For example, if the first rhyme pair is "sing" and "bring," write the letter "a" after each of those end words.
Note which lines are end-stopped, or punctuated at the end of the poetic line, and which are enjambed (not punctuated). Write down the effect of the lines continuing over to the next and ending as the line does.
Underline any words in the poem that you do not know. Look up these words in the dictionary, and write down the definitions that most closely match the way that they are used in the context of the poem.
Circle any allusions that you see in the poem. If you are unfamiliar with any myth or text that the poem is referring to, make sure to look it up.
Underline any words in the poem, particularly nouns and verbs, which have more than one meaning. These words could be interpreted in both literal and figurative ways. Make a note of these meanings in the poem's margin.
Mark any major turns in the poem, using a star in the left margin. If there is a significant change in register, emotion, scene, situation or stance of the speaker, write down what it is.