RE: Engine cowl questions from a relative beginner.
The "pinch" test is better suited to low-end adjusment.
For the high-end, turn the needle to the lean side (Closing it) until you hear it peak. Keep turning till it goes sick, then turn it back to where it sounded good.
Now at full throttle, have someone point the nose straight up. If it goes sick, you need to richen it a few clicks.
Keep doing this until it sounds the same or better when pointed up.