I second that. Prunig JBP and JRP at the end of the season is very effective.
However, I would question the very need of new buds in the circled area : if you wire and bend the lower part of the trunk as shown in numerous articles (and this should be done now), they wouldn't be useful. So, I would cut back at the end of this year only the two branches under the red line, and keep the apex to fatten the hole tree. Of course, if you plan a upright style, the situation is completly different.
If you want taper don't you need a sacririce branch that is below the first branch? Else the trunk will be largely parallel before the first branch up to where the first sacrifice branch was.
This was the best article I have found:
http://bonsainurseryman.typepad.com/bonsainurseryman/2010/04/a-plan-for-young-pine-material.html
I watched some of Lindsay Farr's bonsai videos about Japan. It seems almost all good bonsai are growing in specialized production nurseries in Japan and then exported to the west.
It seems the Japanese know several secrets to growing excellent bonsai on a large scale in a small enough time.
Yet many western people seem to believe these are wild collected yamadori and much older than they actually are.
The same is true with azaleas which cannot be found in the wild as they are all cloned cultivar.
The Japanese deliberately grow bonsai completely from scratch and know pretty well how to do so.
It seems to me that backbudding can be very essential. I see in the forest young pine plants. To some obviously something happened along the way to encourage back budding, making them different from the others.
The plant in the OP seems to have been able to grow without anything happening to it. It has 2 small branches at the same spot. and that's about it.
It really seems the OP is right that something needs to happen to encourage back budding in the blue area. This must be possible but I don't know the answer.
It can be very true that if cut at the red line most or all the backbudding will happen just below the red line.
Another thing maybe of interest. I grew several chili plants this winter on my attic under bright artificial lights. I noticed that compared to the plants I grew outside there was a huge difference in internode length.
The internode of the plants grown with lots of light in the cold was maybe half a cm and less. The internodes for the plants grown in the shade during summer (bright sun would kill them) created internodes of like 6 cm and more.
I don't know if this applies to pines or maples or other subjects. But if you grow a plant with a lot of light but with low temperatures, the internodes will become really short. This seems really helpful for getting a lot of low branches really close to each other.
Gary is very right about growing tips preventing dormant nodes from growing because of hormones. But if a plant is apical dominant it may be impossible to get dormant nodes close to the roots to grow if there are other dormant nodes higher up the teee. And once those grow, they create the hormones that keep the lower ones dormant once again.
I had a chili pepper plant that had obvious dormant nodes low on the stem. No of the growth tips would trigger them to grow. In the end a trunk chop did but of course set the plant a year back in the goal of growing tall and fat.
I collected some pines from the forest. One had a spoke wheel. I pruned all but the lowest of the spokewheel branches. I got backbudding only just below the spoke wheel.
A few weeks ago I cut off all the tips on all the new growth to see what this does to pines.
Removing foliage is done on azaleas and is called motobadome. It's not a azalea unique term so maybe it is called the same for pines.
It does enourage backbudding.
I have seen people say, especially with respect to pines, that removing needles will unshade the tree and that the unshading will encourage backbudding. I never found this to be a plausible theory. So maybe indeed it is a sugar related hormonal thing.
I am going to try motobadome on some pines in the forest and see what that does to them.