Hi Shaun, I know we discussed this a little last night, but I'll put my 2 cents in here for everyone else that's interested too.
At 6:15GMT there certainly was a downward EMA cross. That said, your fast stochs were certainly under 20 (oversold) and slow stochs were approaching 20. I also use RSI a lot, not really for picking a direction, but to avoid trading at market extremes. In this case, the RSI had dropped down to 20. This usually indicates an extreme oversold condition. Some might use that to place a buy order in anticipation of a retracement, but I would only use it as a warning against placing a sell order.
As it turns out, you did place your trade at an EMA cross, and in line with the current trend. But the RSI indicator showed that a bullish correction was either imminent, or not far off.
-Benjimang
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