It looks good, but I would scoot it back about 1". You want that front conch about 1" behind the back edge of her shoulder blade, to allow better freedom of movement.
CJ gave you some good advice on what to look for in saddle fit. Just remember that a western saddle should use a thicker pad, so you WANT the saddle to be a tad too wide without a pad, but the angle of the bars should match the angle of your horse's shoulder and back.
Is your horse that downhill, or was she standing on a downhill slope? If she's that downhill, then you're going to have problems with the saddle sliding forward. To prevent that and to give her a lot of cushion and comfort, I'd recommend getting a ThinLine western Half pad
. They go over your normal saddle pad and under your saddle. They do a great job of keep the saddle in place and eliminating any pressure points, as well as preventing back soreness.
I took a couple of photos of my mare the other day, to check saddle fit. Her new saddle is placed correctly for her and the angle is good, though the padding I used wasn't quite enough. I tried it later with a thicker pad and the saddle sat better on her. In the photos, I have a full sized 30x32 ThinLine pad sandwiched between a doubled woven wool blanket.
Side shot: I have more padd coming out the front, covering her shoulder, than you do. I like the extra pad to be in front of the saddle. The front concho on the saddle is a good 1" or a bit more behind the back edge of her shoulder blade.
Here's a front shot showing the angle of the bars in relation to her shoulder. The angle matches her back/shoulder angle pretty well. It's an OLD saddle (1950s), so the leather skirts are a bit warped. I'm hoping with some oil and use they will relax and straighten out. You can see that she has good wither clearnace too, and the saddle sets down on her, not popped up in back.