Trans Fault with O/D light on
 

I have a ford150 4.6 liter. Coming home from work today and noticed my transmission slipping a little. Pulled in lot and noticed it still doing it and it would not accelerate when I hit the gas. I can go in reverse just fine. It doesn't go forward at all. Couple questions, I assume that I need a transmission because its not pulling at all forward, but could it be anything else? What about a universal? Forgive me I know nothing about cars which is why I'm here. How much typically to rebuild if it is the transmission?? Thanks for any and all help! Waiting on the wrecker for 4 hours now. TGIF!!

Your tranny is shot. If a universal fails to the point where it is no longer connecting the driveshaft to the yoke you would have no reverse. And you would see the driveshaft hanging down on the pavement. You can save a couple hundred bucks pulling the tranny yourself and taking it to a rebuilder.

Thanks for the information. Is it possible that it could be the solenoid?
 

My brother said it could be the solenoid. Is that possible? What would make that go bad ?

The tranny in my 05 did the same thing this past Monday. I have the 5.4 motor. I was hoping it was a solenoid as well. Long story short... $2500 later i got a reman tranny from Ford with 3 yr unlimited mile warrenty