Please help me and tell me my site is Penalized OR not
 

This is my website bridesmaidwire.com
i lost my visitor day by day i am very worried about this, so kindly give me some suggestion regarding this

I think you should use Google webmaster tool to see whether there are some bad links for your website or not. If so, please delete these backlinks.

you dont have to worry about this unless you were not following any blackhat seo techniques. If you have placed links to your site in completely irrelevant or low ranking domains, you may be penalized, but its too soon to tell. Monitor your visitors and try to follow a legitimate back linking strategy, this should resolve the issue.

You can check in the Google webmaster tool. It will show in the manual action section if you are.

This is not enough by finding a bad backlinks and get delete, also take care of updates in websites, make your content clear and cool

I agree with Rubberladychow. There may some problems with your back links, they may unnatural or dead.