Photons

So i have a question, i posted this on /v/ and they sent me here.
As you all know light is a propagating electromagnetic wave. Single photons of light are made when an electron moves outside its shell becuase of the excess energy it has. As it falls back down its electric field generates an offset magnetic field. This then creates an electric field and so on.

My question is this, if light is just two self-propagating fields then how can it have direction?

For instance if one electron produces a photon from moving, which then propagates as an electromagnetic wave how do you know what direction said photon will be moving as the fields will not have a direction.

On a related note, is the magnetic field offset from the electric field as cos and sine curve? if not how does this fit in with the conservation of energy?
Edit i was told that a photon gets a predetermined momentum when it forms? What is with that, and how is it determined?

>>3
Photons are created when an electron in an atomic orbital jumps to a lower state.  These atomic orbitals only have discrete allowable energies, so we can compute ahead of time how much energy the electron has in each orbital in a particular atomic element.  When it jumps down an orbital, the amount of energy lost must all go into the photon, which determines its frequency (which then determines the momentum).

If I recall, a photon can also be created when a positron and electron collide and annihilate each other; in this case the photon energy (and hence momentum) is determined by the energy of the original positron and electron.