ESP8266 - HC-SR04 - Arduino

If I make connections like you see in picture down, will it work? may I damage ESP or HC-SR04 ?

As I know;

HC-SR04 (VCC) -> 5 V

ESP8266 (VCC) -> 3.6 V

ESP8266 (RX/TX) -> has 5 V tolerance ?

I have never take into account the currents that will each pin draw.So, is everything OK?

I'm not good at this stuff, so I'll appreciate it if you guys give me advice about how to build my graduation project?