Thanks everyone for your feedback.
The Base coat is Black metalic.

Based on what was said I am guilty of one of two things or even a combination of the both. Firstly I didnt allow the primer to cure overnight due to time contraints. I gave it a few hours and then block sanded. Also I put on the clear really wet. Wet as in just before it was going to run. I could understand where the orange peal came from in terms of applying the clear on so wet but I am guessing that the rippes or waves after it has cured is a result of the primer.

Hope other benefit from this mistake....