Paint needs a bit of surface porosity or roughness so it can "hook"onto it and remain adhered.
Highly polished surfaces don't have the bite that paint needs. Clearcoats applied to mirror polished surfaces often come off later in sheets as the two materials have a different coefficient of expansion. The original Honda clearcoated engine cover were a "brushed" surface for this reason. This made them shiny but not mirrored.
Wax is very thin and not very durable, requiring frequent renewall.
If the surface prep leaves a surface bite. Then a two part polyurethene with UV blockers will work well. Other epoxy type paint should work also. The UV blocker is essential, or the paint will yellow.
Many years ago I refinished my front Forks and applied Automotive lacquer clear. Looked great, I thought. A couple years later was getting compliments on how the front fork color matched the gold pin stripping in the fairing. Er, thanks, but the clear coat had yellowed. Nowdays, you can flick the opaque yellow paint "dust" off the forks with your thumbnail. (sigh)