Chris Waller's chances of having a Golden Slipper horse are likely to hinge on the outcome of two races in which he doesn't have a runner.

The Waller-trained Always Allison is prominent in Golden Slipper markets but the unbeaten filly is not nominated for the $3.5 million race.

Waller is inclined to save Always Allison for the ATC Sires' Produce Stakes.

But a final decision won't be made until he dissects the results of the Todman Stakes - and to a lesser extent the Reisling Stakes - at Randwick on Saturday.

"I want see on Saturday how good these colts are ... and even the fillies. I think the picture will become a lot more clear," Waller said.

"At this stage I think you could easily make a case for Always Allison being between fifth and eighth in the ratings as a Golden Slipper chance."

Waller needs the pieces of his own Golden Slipper puzzle to fall into place before convincing Always Allison's owners to part with a $150,000 late entry fee.

"I would like to see her work improve to say that she's improved since winning the Sweet Embrace," he said.

"And I would like to see a couple of the colts not improve their rating after the Todman.

"At the moment they are not standouts but they look pretty good all the same."

Three of the top five horses in latest Golden Slipper betting will clash in the Todman with Headwater an odds-on favourite to keep an unbeaten record.

First-up Kembla Grange winner English heads markets on the Reisling Stakes from Godolphin filly Ottoman.