I couldn't tell from your photo exactly were the wire wrap on the thermostatic strip ended. From your photo towards the left end the wire wrap (resistor) must start. Find that end and that is what attaches to the terminal post.
Basically the current path is from terminal post, jumps to the resistor on left end of strip, travels around and around the strip on the insulation, comes off the right side of strip to solder point connected to the metal (bi-metallic) strip, up the strip the current flows to touch the adjusting screw, then onto the wire up to the solenoid.
The way this circuit works is the resistor (wraps) cause the bi-metallic strip to heat, it bends and breaks contact with adjuster, solenoid then de-energizes. Strip cools, bends and makes contact with adjuster and solenoid re-energizes. On and off it goes because the strip is heating and cooling bending back and forth making contact.