Not bad. There are some things that feel weird to me.
First it feels like she is looking not out towards the sun but rather off to the side (unless the sun is off to the side in which case your fade drives me nuts). It also does not feel like she is actually standing on the ledge but rather two separate layers (the fact they are actually separate layers is not important here).
I like the fade you have put in however it does not feel quite right. Most stars are gone by this time and the transition from light to dark is not so sharp. Also the cloud does not make sense and feels out of place.
I really like the shadow you have and that it reflects the ripples in her mane and tail. However that shadow and other shadows seem to imply the sun is both above and below the ledge.
Over all not bad and keep up the good work, Inciatus