Site have penalized or not

I am working on a site , i really don't want to place the URL,

I started work in 2012 June month , site was in initial stage some 2000 approx visit by site name ( domain name keywords) and some random search from keywords.
I research for keywords, and find out some less competitive keywords with good Global monthly search.
Meta Tags, h1, Header text , all i did targeting keywords and then

Higher a good content writer for rewriting of content, for high keywords density and taking care of proximity and prominence of keywords.

After this image optimization alt title all size.

Add some attractive banners of inner page navigation.
and also created sitemap, rss feed. rectified all crawler issue.

Then started submission activities, I was sure about my site, It should rank better on search engine.

But result was just opposite , traffic start decreasing, no keywords were ranking after lots of submission i analyzed there in no effect on keywords .

Site have now less traffi8c than earlier , just half from starting. I really don't know how to check penalty .
I never use any wrong way for optimization always follow instruction of white hat.


Please suggest me the what is wrong with my site.

Thanks

Not much we can do, if we can't see the site itself. Google tends to give an initial boost to new sites, or at least that's what it says. Could be the competition, has got stronger or some Google update has slapped you around.

If you have done nothing wrong, I'd say keep on doing what you are doing and it will eventually go back to normal.

I was thinking the same as the previous poster, maybe Google was just bumping you a bit as you were new and now you are in a more natural position