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Check transmission fluid level. If low then add to top of full line. If fluid is full already, is it burnt looking or smelling? If answer is yes, replace transmission. Sorry, but not much will keep the transmission from working. If the fluid is really low then the the pump won't have enough to engage the gears. However chances are if the fluid is that low then it is burnt looking and smelling too which means that the transmission will need major repairs.
have one myself w/over 400.000 miles suggest you change transmission fluid and filter,just add lucas transmission treatment to your fluid change. never had problems w.mine. but firm beleiver in lucas oil and transmission and fuel treatments. just trying to see how far i can go w/mine. the lucas treatment added to your fluid and transmission fluid and filter change frees up stuck valves in the transmission. sounds alot like you may have a stuck valve body in the transmission to me.pull your transmission fluid dip stick,this is going to sound strange but go with me for a second please, does the fluid smell burnt? do'nt be scared to put it on your finger and sniff it. if it smells like burnt expletitive,then it needs replaced and filter too. just please add lucas transmission treatment to your fluid change,you will not regret it. the treatment [lucas] will cost an extra $11.00 onto the fluid change,trust me, you will not regret it!fluid changes are a must for ford explorers 4x4 don't know why,but they demand baby formula. lucas,i've found is that formula. thank you for choosing fixya.com we are here 24/7 for you 7days
there is a transmission dipstick between the airfilter and the radiator. the handle will be balck or orange. if you still have trouble finding it look about 5 inches to the right of where the engine and transmission meet in the middle up by the radiator. you can put transmission fluid in there.
If your having to add transmission fluid and not coolant, then the water pump is ok, fill with transmission fluid look under truck, if fluid is coming out of between engine and transmission housing, then bad front transmission seal.