Last night i was driving and the transmission urgent light came on but my car sounded fine and was driving good. Then I stopped and turned my car off and the light turned off and didnt come back up when the car restarted. It feels fine and everything is working good. This happen to anyone or know anything about it? Also where the transmission fuel is located so I can check Ive seen videos showing the dipstick for the oil not the transmission fuel.

 

Transmission only has oil, no fuel. Only the engine uses both fuel and oil.

Definitely check the oil level with the dipstick. You will get the most accurate reading when the oil is hot. Also, after looking at the oil level on the dipstick, drop a little bit onto a white paper card like a 3x5 note card. Look at the color. It should be red or mostly red, not brown or black. It should also smell like transmission fluid. If it's brown or black and smells burned then it needs to be changed quickly.

 

Good Luck. My 2007 S40 has been doing that since I got it 18 months ago. The first time it happened the day after I bought it, I brought it back to the independent dealer and he put another transmission in it , free (under warranty). That was in November. Once it got warm, it happened again.
I pull over and shut it off and take out the key and wait 10 minutes or so. I start it back up ; the Urgent lite is out and I drive it until it happens again. Maybe a week later . Maybe again the same day. Sometimes several times a day. It hasn't happened all winter, but it's warming up so I'm expecting it to start happening again. I can't afford to buy a rebuilt trans.
I've put almost 40 thousand miles on it in the past 18 months with it doing this. I'll never buy a Volvo again. It's a laptop with wheels that can't be repaired, only replaced.
Good luck.