Transmission Questions? Ask a Mechanic for Answers ASAP
Hello, I'm Chris. Welcome and thanks for asking your question!
You have a 4R75E transmission. You are experiencing 2 failures the forward clutch and possibly the intermediate clutch are slipping and most likely the 1-2 shift accumulator has a torn seal. The intermediate clutch (2nd) gear is the one I feel may not be slipping if the accumulator is leaking, it is going to be one or the other. I am sure though you have a forward clutch (1st) gear slippingYour options at this time are to replace the trans with a Ford remanufactured unit, parts and labor will run about 2600$ Install a junkyard trans and have it serviced once installed. The price varies depending on how much the trans costs, average parts and labor 1200-1600$Remove your trans and rebuild it an then reinstall it about 1900$.Sorry for the failure you have experienced and the bad news.
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This will not be a speed sensor issue since that would give you a warning light or message stating there is a concern.
Changing the 1-2 accumulator is not all that hard. You will need to remove the valve body to access and you will need a inch pound torque wrench.
If you want to do this yourself, I can help.