After looking up some pictures of knights in similar outfits I see what you mean. I'll keep that in mind for the future. I haven't made much art of any kind involving fabric so I have much to learn there.

Fabric tends to drape over and follow the form of whatever is underneath, it only hangs loosely and has all those vertical folds if there's nothing underneath. So, you've made your knight look like he's a ghost with no torso :]