Gai Waterhouse has put out-of-form import Julienas on notice ahead of the Sky High Stakes at Rosehill.

"He might be going down to Warrnambool if he doesn't run well on Saturday," Waterhouse said.

The country Victorian track is famous for jumps racing and Waterhouse is already building a team for Warrnambool's three-day carnival in May.

Waterhouse has Valediction close to making his debut over the hurdles and Group One winner Glencadam Gold has also been earmarked for a jumping career.

Julienas could be the next Tulloch Lodge stayer to continue the expansion of Waterhouse's Melbourne team if he doesn't lift on a disappointing Canberra Cup run.

He is a $17 outsider chance to go back-to-back in the Sky High, a Group Three race in which most of the pre-post betting action has been for the Chris Waller-trained Diametric.

Diametric is first-up in Australia and has shortened from a double-figure quote into $5.

The five-year-old ran second in a German Group One race last year and steps out at Rosehill after having four barrier trials between 800m and 1200m.

Diametric was ridden by a different jockey in each trial and Jason Collett has won the mount on Saturday.

Waller, who operates a Melbourne satellite stable, is poised to join Waterhouse in the Victorian jumps trainers ranks.