ERC-20 Transactions

Can anyone assist me on how transactions can be read to someone looking at a certain wallet? I tried getting educated on hooks as I believe this is part of it but still want clarification. I will lay out how it looks on my end and need help interpreting what it means.
When looking at ERC20 Token Txns on Etherscan:
A wallet (P) has an outbound erc20 transaction interacting with (to) a specific erc20 (#) tokens contract for a contract in place for P.... (P#). So technically it is a From P interacted with (to) P$. A fourth interaction is involved as it has an IN transaction in the wallet that made the transaction appear as out in the (P) wallet. Let's call the wallet originating the transaction (O)and the wallet interacting with an exchange like Binance or Opensea (U)
Transaction is successful
In the tokens transferred section on the transaction it indicates the following : From (P#) To (U) For 12 # ($143) (# tokens).

In that scenario, who is the sending coins and who is receiving?

If I did a poor job of explaining....the transaction hash I want to understand is: