The strong points in the original painting are:

• It was wise to partially cover the second Christmas ball. If you hadn't done this, there would've been two equal forms usually referred to dualism. This is to be avoided to avoid a struggle for attention focal point.
• The fabric was well painted. The different planes and depth of the overlapping are well depicted.
• The reflection of the stripes on the Christmas ball helps convey
  the feeling of roundness.

The images to the left are electronically enhanced copies, with the suggestions of the critiquers incorporated directly into the image (as shown by the areas that are highlighted).

Specific comments are below.

Areas to work on:

Positive vs. Negative Space
Many times artists tend to pay too much attention to the positive space and not enough to the negative space which is very important for a painting to look good as a whole. The negative space in this case is the dark void that surrounds the striped cloth. When this area is left black (at least it looks this way in the photo) it will give the idea of empty space which in return tends to trap the viewer in that area. This painting may look more interesting if the were laid on a wooden table showing the wood grain in
that negative space. This would give it a logical base on which the elements were placed also providing for a more interesting negative space. It sort of seems that it is standing upright; if so, the ball would roll down.

The Stripes
The stripes on the cloth are very strong visual paths that can also lead the eye out of the pictures. Look at the bottom right. The stripes give a movement from left to right thus taking the viewer out of the picture. I
have changed this movement (as indicated above by the green square). Now you can see that the stripes are flowing into the picture instead of outwards. The stripes at the bottom/bottom-left are fine, as they serve to draw the viewer into the picture.

Additional comments:
Very nice work indeed! Most people are really drawn to hyper realism.