Power loss above 3K

Dump the codes and see what the computer says is wrong…Codes may be present in the computer even if the Check Engine light isn’t on.

Here's the link to dump the computer codes with only a jumper wire or paper clip and the check engine light, or test light or voltmeter. I’ve used it for years, and it works great.

See http://www.troublecodes.net/Ford/
OR
See http://www.mustangworks.com/articles/electronics/eec-iv_codes.html

IF your car is an 86-88 stang, you'll have to use the test lamp or voltmeter method. There is no functional check engine light on the 86-88's except possibly the Cali Mass Air cars.

Codes have different answers if the engine is running from the answers that it has when the engine isn't running. It helps a lot to know if you had the engine running when you ran the test.

Trouble codes are either 2 digit or 3 digit, there are no cars that use both 2 digit codes and 3 digit codes.

For those who are intimidated by all the wires & connections, see http://www.actron.com/product_detail.php?pid=16153 for what a typical hand scanner looks like. Normal retail price is about $30 or so at AutoZone or Wal-Mart.

Or for a nicer scanner see http://www.midwayautosupply.com/detailedproductdescription.asp?3829 – It has a 3 digit LCD display so that you don’t have to count flashes or beeps.. Cost is $35.

Wal-Mart may now have the LCD display scanner for less than $35

Don't find any codes? then replace the TFI. TFI problem symptoms are a loss of power at higher RPM's when the engne is warm.

Post the all the codes you got. Depending on what you got, you may have a limp mode condition. Some of the EGR fault codes point to other problems