It looks like you have an eastern white pine. I have one myself. The management of candles and growth on a white pine is actually DIFFERENT than a black pine. It is a lot about timing and how you manage your candles. I hestitate to tell you exactly how, as I am still figuring it out myself. But I was given the "how" on what needs to be done to pull it off. It will back bud as was described... more readily the newer the wood. Yours looks fairly young, so you should be in luck.
People who have raised pines for a while get the feel for the rythm of the tree based on the area where they live. Often times there is a generally accepted schedule that people will have figured out. So you would be best served to find someone in your area who grows them and see what their schedule is.
Trees like pines, and pretty much all conifers, are apically weak. Which seems odd because we see them as always trying to grow upwards. But in terms of horticulture, apical dominance is actually found in trees which grow strong crowns all over, like deciduous trees. So your candle management will be more severe on the top 1/3 of the tree in order to force more energy into the lower branch structure. You'll also manage the ends of your banches differently than you will the inner branches because you want more density in the center of the tree, which is contrary to it's growth habit. It will also allow more light into the center.
Unlike a black pine where the strongest candle is almost completely removed, and then the next strongest, etc etc... over a course of weeks... causing the tree to backbud further on the branch, white pines are actually backwards. You remove progressively stronger candles over the course of weeks until you remove the strongest one last.
Also depending on how big you want the tree to grow, and it's structure, you can let a leader grow tall and free in order to gain trunk size. Then when you have achieved it, removed that leader entirely.
I have had back budding on white pines. My Japanese White pine and my Eastern White Pine both. My JWP backbudded insanely this last year. But that is a whole different story, it had an odd year. (smile) I am hoping to achieve more significant back budding on my EWP this next year. I potted it this last spring, so I didn't mess with the candles much, it was to busy trying to recover from that. I did some hard pruning this last fall, which goes against conventional wisdom. However I did no harm to the tree as it is quite large, and my mentor Dan Robinson assured me it would be fine.
I hope this is helpful.
Yours most kindly,