Wheel speed sensors are mounted inboard of the caliper, and 'poke through' the splash shield.
They can be identified further by the 'thicker' black electrical cable that is attached.
Only 2 electrical cables run to the hub assembly.
One is the pad wear sensor, which goes to the caliper.
The ABS sensor is attached to the other cable...
Hope that helps. A picture would be more helpful, if I had one...
1986 300E 5-Speed 240k mi.