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You only need to loosen the upper bolt from both sides, do not overly loosen, just a little bit of tension is required, you then adjust your elevation using the large knob under the counterweight shaft, when you are satisfied, just nip it up slightly, if you are overly aggressive, you can shift your elevation significantly.
I don't use King Rate at all, other people may have other ideas, I don't see the need if you are autoguiding.
Cheers
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