I've never tried Acacia redolens. I've never even heard of anyone trying it as bonsai so you may have to do the pioneering work on this one.
I did find it is a Western Australian native but you have not given any indication of where you are growing this species. Location means seasons and that can be critical info when deciding what to do and when to do it.
Acacia redolens listed as a low, spreading plant but you should be able to shape it as upright style if you want. There's not really enough plant there to pick one single style for that tree. Hopefully it will ramify well after the initial trim, giving more ideas on where to go next.
I'm keen on Aussie natives as bonsai so would like to see regular updates on how this one responds to bonsai techniques.
