I think the legs are little too short and arms are looking weird, especially his left arm which looks like rubber hose.
The arm shouldn't curve too much outside the elbow.

I think he's a little too messy right now. I'd say the readability is hardest around the shoulder armor. Just take it easy on details and think about what the big, simple shapes are around that area. Avoid overlapping objects like the shield bolts and the armor, because they blend together and are hard to read.

Try cleaning up your shapes and lines so that they aren't so wobbly. Jagged lines really kill pixel art, so taking the time to ensure that the lines are as smooth as possible is really important.

For the skin, I'd keep using the colours you already have (by the way, great job on using just a few to get the job done!), but perhaps work in the light brown as subtle aa or as a shadow tone.

Other than that, it's looking like a good start, and I look forward to seeing your progress!