I am a die hard Chevy guy, not too keen on the ford side of things however, If the drivers side valvecover is easy enough, remove it. Pull #1 plug and rotate the crank until the piston is all the way up and the valves are closed. This indicates TDC (Top Dead Centre) Compression stroke. Pull the cap off the Dis and look at the position of the rotor, inside your cap it should be marked with a number one or follow the wire from 1 to the cap. The rotor needs to be pointing to number 1 in the cap so lift it out and adjust acordingly. Not sure what your timing should be set at but if you pulled the Dis you probably put a mark on the base of the dis and the block to indicate where it went, if not borrow a timing light from someone and set her up.
Now I know some fords have odd ball cylinders so you might wanna check for sure what cylinder is number 1, pretty sure its the drivers side closest to the rad, but don't quote me on that. Either way this proceedure will work once you determine number one.
If the valvecover is too hard to take off, TDC is good either you will be bang on or 180 Deg out. If 180 out just pull the dis again and rotate 180.
Cheers and hope this helps. Rick.