My form puts my peep very low compared to just about every other archer I know. Maybe it's bad form, but it's the way I shoot comfortably. That being said, I normally have to run the sight all the way down to it's lowest adjustment before I can get on target. The lower the peep, the lower the sight will have to be. I should try to learn to raise my peep a bit, but it never feels comfortable to me. But I think the other guys nailed the problems for you, and with a simple peep adjustment, you should be doing fine.