Multiple opponets vying for possition

Question: If I have three combatants, with the first and second attacking the third one, and each of them with different weapon lenghts (say a Roden wielding a knife and an Elf wielding a bow, attacking an Orc wielding an axe), how do you resolve who gets the advantage? My guess is that each would have the advantage on any adversary that rolled below, and be held at disadvantage by whomever rolled higher. Is that right?

So if the Orc gets the high roll he holds both Roden and Elf at axe length. If the Elf beats the Orc but the Orc beats the Roden, the elf is safely positioned at his advantage, but the Roden is being held at bay by the Orc’s axe… Right?