she looks like a dwarf, or just very short
short arms, short legs, short body, tiny feet and a big head
you could make her look musclular without making her stocky
have a look at artgerms stuff on deviantart, see how he makes women look strong, but slender
http://artgerm.deviantart.com/gallery/
sword also looks very heavy
her right arm is also way more built than her left
and i would imagine with that pose, her back foot would be planted on the ground for balance, try the pose out yourself and see how it would be to lunge with your back heel raised like that with all your weight backwards
otherwise good work, character, shaping and pose look natural
good muscle tone
adding the dragon thing wrapping around and holding the sword was a nice touch