The Remote directory and HTTP address can be very confusing and greatly depends on the setup of your host.
For me ie. the http address is http://www.mydomain.nl/ebay/ while in fact the remote directory is /web/ebay/
'ebay' is a directory I specifically created for my eBay pictures so my root directory is /web while for the outer world it is www.mydomain.nl.
Most of the time you can find this difference by logging in to your webspace through a seperate FTP program and look what path you see in there.