Farnan has lost Golden Slipper favouritism but his high-profile stable remains adamant the colt is the right horse to deliver Tulloch Lodge a history-making win.

A winner of four races from five outings, Farnan is out to give trainer Gai Waterhouse a record seventh Golden Slipper at Rosehill on Saturday.

It would be Waterhouse's first since Vancouver in 2015 as she strives to go past her father Tommy Smith to hold the Slipper training record in her own right.

Waterhouse's co-trainer Adrian Bott is chasing his first success in the world's richest race for two-year-olds.

After coming up with a double-digit barrier, Farnan was displaced as favourite by Blue Diamond Stakes winner Tagaloa.

Tagaloa, who was second to Farnan in the Todman Stakes last start, was at $5 on Wednesday.

Farnan and Blue Diamond runner-up Hanseatic are at $6.

Winner of the Silver Slipper and Todman Stakes in the lead-up on soft-rated tracks, Farnan has drawn barrier 14 but will come in two gates in the field of 16 should the final three emergencies not start.

But four of the past five winners in Kiamichi, Estijaab, She Will Reign and Vancouver all jumped from wide draws.

"The best horses have still been able to win from those types of draws," Bott said.

"So if you've got the right horse I don't think it's that big an obstacle but obviously the market reacts quite strongly to it.

"(Farnan's) got tactical speed which is in his favour as well.

"What is also important is where the rest of the speed is drawn around him.

"There doesn't appear to be too much inside of him and he comes in a couple with the emergencies.

"Those two races that he's won in dominant fashion - the Silver Slipper and Todman - have traditionally been very strong guides to performance in the Slipper.

"And I don't think he could have been any more impressive than what he has been in both those races.

"Taking a line through those performances and what history has shown, I certainly feel we've got as good a chance as we've had for a very long time going into the Slipper."

Bott said Farnan was holding his condition well for the $3.5 million race.

"He has followed the path that we wanted to set for him and he has come out of the Todman win in great shape," he said.

"I'd say even better than what he had done out of the Silver Slipper."