Applied to thick like everyone else said. When applying it should appear almost invisible, pretty much like a smeared fingerprint. That's why it's important to really work it in. It's the only way to assure complete coverage with a thin coat. Microfiber applicators are the best at this.
The haze is the wax solvents sweating back up to the surface, apply too much and the solvents soak into the paint, it's what helps 845 bond so well to the paint and be so durable. But put too much and it takes so long to dry and when it does you're left with caked on wax hard as concrete.
And wiping the sweated solvent off also strips wax protection and thins out the over all protection applied. It's very important to apply thin coats, not only does your bottle last longer but you can then let the wax cure on the panel longer, still be able to buff it off to a great shine and the protection will last longer because you're not wiping off the sweated solvent.