First, you shouldn't have enlarged it. It's a lot easier to look at in the smaller sprite form, the way it was
meant to look.
It's not bad, as far as I can tell, but it isn't amazing. For one thing, your outlining needs work- some places it's too dark, some places it's too light, and other places just lack proper outlining, like the right sleeve. Also, the color you used for the folds/creases on the bottom clothing piece should be a more blue-grey color, because they're much too dark in contrast to the other colors on it (and don't make the highlighted area white, either).
One last thing: obviously, you copied/pasted the sword from another place. That was a horrible thing to do, becaause it looks VERY out-of-place, as it's too small and it was done sort of differently. You should have remade the sword yourself, because this one doesn't work.
Again, it's not bad other than that, but I advise that you don't start threads only showcasing a single sprite.

Good luck.
~Psychic