Transmission Problems--PLEASE HELP!!!

I need some good advice. My 1998 Mystique, 4 cyl. Zetec 3.0 Auto transmission, has a serious tranny problem. It started with the O/D light flashing, then it started slipping in D. I could still drive it, but I would have to start off in 2 and get it up to 3500 RPM's and then I could put it in D and it would shift fine from there on out. Now, all forward gears are gone, but I still have reverse. BUT if I put the car in D it will creep forward, but it will rev up with no movement. I tried unhooking the MLPS plug with no effect. Could someone please tell me if they think this is Transmission bands, Torque converter, or something else entirely. I am going to fix it but I would like to know where to start.

All help and advice are greatly appretiated. Thank You! :banghead:

All of the AXOD, AX4S and AX4n trannys are prone to that type of failure. It could be a fuse (but I don’t think so). You could check for the two B+ wires to the tranny and do a test of the valves by jumping in ground and B+ to make sure they are clicking. Then I would pull the pan, if the magnet inside looks like a big fuzzy doughnut and there is sludge in the bottom of the pan…… it is time to buy a rebuild kit. you have revers so it is not a bad pump. Becaue I like to K.I.S.S. things, I remove th valve body and hand it to a person that knows what they are doing. I replace everything els.
Then stick the thing back in. just about every E transmission has an intermediate plate that can be pulled with the valve body. That keeps things simple for us shade tree mechanics.

Thank you for that. I guess I am going to pull the tranny and either rebuild or buy a rebuilt one. The car has 192,000 miles on it, but it runs like a top. I hate to just junk it for $200. I want to do the cheapest thing possible. That's why I was asking if it's the actual transmission or the torque converter and how to check which one. I would hate to buy a tranny and have the torque converter be bad. That would suck!:eek7: