I would suggest that the wool has been felted about 3-4 times prior to this (although that isn't the case in my picture, but this is just to show the method)
Place the wet, pre-felted dread on to your towl and hold one side firmly with one hand.

Ensuring that the wool is tight in one hand, start rolling down the opposite side of the dread, you must only roll in one direction, not backwards and forwards... you will start to feel some tension as you are rolling...

Once you get to the other end of the dread you will feel that it has a lot of tension, this is what we are after... Now that you have both ends in both hands, place both ends in to one hand, ensuring that you keep a tight hold of them...

Hold the dread upright so that the twists can fall evenly.

Now peg the two ends together. Attach the dreads on too a sturdy surface, i usually use a clothes horse, i find the gravity of the dreads hanging makes for a better wiggle.

The good thing about the dread being held together is that it is easier to work with, what I normally do is leave them on the radiator for a day or so, if they totally dry within that time then I will dampen them and blow dry them with my hair dryer, the heat seems to make them stay in shape better.
Here is a set which I created using this same method.


I hope to add to this thread with a little tutorial on the other methods I use to get some good texture to the roving.
If you have any questions feel free to ask!!