A quick couple of questions.
Are the wires single core or stranded.
I think I can see the Data collector terminal has screw connections. What are the others, I can’t really see.
A Rule!!! NEVER put soldered wires under a screw type terminal or crimp. Believe me it will not stay tight.
I can see now, I zoomed the image and they are screw terminals.
Single or stranded I think the safest bet will be bootlace ferrules.
Rule!!! NEVER put single (resistor lead) and stranded together under a screw terminal, always use a ferrule. If you use these ferrules right through here you will not go wrong and have good reliability.
What is the value of the terminating resistor at the “terminating end”. It doesn’t look much like 120Ω to me. The first band looks yellow which is 4 for a start.
And yes this is the way to go. But when using ferrules don’t twist the wires but keep them straight.
Jaycar have these ferrules under “Ferrule Crimp Connectors”