AusBonsai

I had this elm for less than a year and from ugly long piece i made a radical chop few months last year, selected 2 of the strongest branches and now Im in a need of advice, which way to take this tree to start developing branches to follow the future vision.

I would actually use the lower branch as the new apex.
The vertical continues the same straight trunkline as the base.

The branch would be c0me the second section of trunk and let it go mad until it thickens ( 2 years) then chop it again. Rinse and repeat until you have a trunk with several ( 3 or more) trunk sections with taper and movement, then grow your branching.

Ken

should I than chop the straight one?
One issue I'm worried about is that the branches wont develop on corky bark, only at the place where the tree was chopped...

I do not have one myself, but have other deciduous trees with lumpy bark, but see no reason why they will not backbud. Can anyone confirm?
The other option is to do a test and see. Cut back hard and see if does back shoot.

I would tend to use that straight one as a sacrifice branch to thicken the lower trunk section. Keep it for a few years then remove it.

Ken

I've got a couple in the same sort of stage. They'll shoot out heaps around the cut site but also plenty of shoots lower in the corky bark.

I agree with ken. The lower branch should be your trunk line, but leave the current top to thicken the trunk. Feed it well and let it grow strongly for a year or 2 before chopping.

It's often hard to leave a tree alone and not want to play with it. However it will be a much better tree if allowed to thicken. Most of what you have now will end up being removed besides the first section of trunk so I would t be worried about branches yet.

I agree with the direction advice - A trunk with bends in it looks better than a straight one.
When depends on what you are trying to achieve:
-If you want to grow a small bonsai then cut the straight one off now and also cut back the other trunk where you want the next bend to be.
-If you want a larger bonsai with an impressive trunk then leave them both alone for another year or 2 - just feed and water well to make it grow. Remove the straight one when the main trunk is about 1/2 - 2/3 of the thickness you'd like it then concentrate on growing the real trunk, pruning to get bends and taper.

Yes, corky elms will grow buds from old corky bark if you prune hard but why would you want new shoots that low on your tree?

Thank you everyone for advices. It really helped me to put an "action plan" to place so at least I know where the tree is heading