Drop your jaw moderately. Touch the tongue tip behind the bottom front teeth and lift the mid-front part slightly toward the roof.

Americans pronounce led as ehl-ee-DEE (/ˌɛliˈdi/). Stress falls on the third syllable — keep everything else short and quick. You'll hear it in sentences like "She made a crucial assist that led to the goal" or "She switched to led light bulbs to save energy" — more examples below.
Record yourself saying "led" and play it back. The mic stays on your device — nothing's uploaded.
3 syllables, 5 sounds. Tap a syllable to jump to its row, then explore each sound's mouth shape and how it's made.
Drop your jaw moderately. Touch the tongue tip behind the bottom front teeth and lift the mid-front part slightly toward the roof.

Place the tip of your tongue against the alveolar ridge just behind your top front teeth, the same contact point as /t/, /d/, and /n/. The difference is what happens to the air: for /l/, you let it flow continuously around the <em>sides</em> of the tongue (that's why /l/ is called a lateral). Turn your voice on the whole time. Lips stay relaxed, no rounding or flaring. For the Dark L variant at the end of a syllable, also pull the back of the tongue up and back toward the soft palate.

Click any sentence to see the full breakdown — every link, every reduction, every flap-T.
The textbook way isn't wrong — it's just not how anyone actually says it.
In "led", the "d" is not released — the articulators get into position but hold without the burst of air. Air stops but there's no release burst — the articulators hold position.
Stress falls on the third syllable, not the others. Stretch DEE — keep everything else short and quick.