The club now sit fifth in the tableahead of their trip to bottom-placedWolves tonight.
'I am a lucky man,' said the Italian,who knows he cannot afford to losemore ground on leaders ManchesterUnited if he is to retain the title.
Lucky: Ancelotti reckons he is lucky not have been sacked
'I understand that a lot of coachesare sacked with results like these.'
Former Chelsea bosses Luiz FelipeScolari and Avram Grant wouldprobably agree.But despite Wolves' lowly position,the Midlands is not the ideal place forAncelotti to go looking for his firstaway win in the League sinceOctober.
It was at Birmingham twomonths ago where he believes muchof the damage to his side's confidencewas done.
Despite dominating, theylost 1-0 there, and the 51-year-oldthinks his squad are still recovering.
'Sunderland (against whom theylost 3-0 at home) was an importantgame but the main one for losing confidencewas Birmingham. We playedone of our best matches and lost.'
Confident: Ancelotti believes his players can recover
That kicked off a horrendous runwhich now has many observers questioningwhether the champions willeven finish in the top four.
ButAncelotti urged everyone to judge himat the end of the season.
'When you go to a restaurant, youhave to pay the bill when finish your meal,' he said.
'It's the samehere. We have to pay the bill atthe end of the season. At theend the club can judge me. Thebest food would be the ChampionsLeague. I've tasted itsometimes and it's good.'
Chelsea's late lapses are alsogiving Ancelotti food forthought.
Further blow: Aston Villa's Ciaran Clark scores a last gasp equaliser against Chelsea on Sunday
'Against Everton weconceded in the 86th minute.We missed a penalty at Tottenhamand conceded in the lastminute against Aston Villa. Wehave lost six points in the lastminute and with those sixpoints we'd be top of table.'
But Chelsea are not top andthere have been suggestionsthat the lapses came becausethey have one of the League'ssmallest squads.
Although Ancelotti is adamantthey can win the titlewithout bringing in new facesthis month, the search is on for a couple of players, most notablya central defender.
'When the Champions Leaguecomes back, we need to have asquad without injuries,' saidAncelotti.
Possible move: Benfica central defender David Luiz has been linked with a move to Chelsea
'If the club does buy,it will not be just for this year.We are looking for young playersbut ones with experiencewho don't need time to adapt.'
One man who would adaptfast and knows all about winningtitles is David Beckham,but Ancelotti insisted: 'Beckhamis a fantastic player andcould be good for Tottenham,but we're not interested. In thatposition we have good players.'
With John Mikel Obi and YossiBenayoun injured, you couldforgive Ancelotti if he wastempted to bid for Beckham,but he looks more likely to usehis existing creative players,including Daniel Sturridge.
'The young players are in thesquad because we trust them,'he said. 'Sturridge has quality.'
But the Chelsea boss will facefurther speculation should histeam lose at Wolves.
'We will not lose. We will win,'he said. Perhaps that is the sortof confidence you can affordwith luck on your side.
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Explore more:People: David Beckham, Daniel Sturridge, Carlo Ancelotti Places: Birmingham