I figured out that my anchor point was messed-up when I had the same problem you do. When I corrected that I've had plenty of adjustment. My problem was the peep was too low and when I moved it up a little problem solved.

Also, if you have the ME model you will want to set-up the adjustable bottom pin first. I made the mistake of ignoring the directions and set-up the top 3 and then found out my 50 yd+ adjustable pin wouldn't go up high enough.