It looks correct to me Peter, I say this based on the cutout in the deflector body located on 'top' of the Alternator revealing the voltage regulator.
Here is a shot of mine during disassembly - it is undone, but the orientation if very similar.
I made a boo boo on mine during install you might want to be aware of. somehow I managed to gouge a chunk of insulation on the large gauge red wire. The smaller forward deflector hole edge caught a kink in the wire.
