Ancelotti's side have taken just 10 points from their last 10 league matches and have slid to fifth place in the table.

They have amassed just two points from their last five away matches but Ancelotti believes a win at Molineux could see them get back on track.

When the former AC Milan boss was asked if he would have been sacked by now if he was still in Italy, he said: "Depends. I am a lucky man. A lot of coaches have been sacked with these results. I can say I am a lucky man."

But while Ancelotti admits he is anxious in the January transfer market to reinforce his squad, which is still missing long-term casualties Yury Zhirkov, Yossi Benayoun and defender Alex, he is confident the players who won the double last season can return to winning ways.

"We are not desperate," Ancelotti said. "Everything is okay. We are able to come back for the title also without any new players.

"When the Champions League comes back we need to have a squad without injury. It is important that Alex comes back fit to play.

"In February when the Champions League comes back we want to be in the FA Cup and the Premier League (title race), every game will be important so we need to have a squad fit and without injury."

Ancelotti, however, admits that finishing in the top four and qualifying for the Champions League is now his main priority, although he is quick to insist that he has not given up on defending the league title.

He also explained why he has not used the Chelsea youngsters more in the past two troubled months.

Ancelotti said: "When the moment is not so easy it is difficult to put these players in although in the last game (3-3 draw against Aston Villa) Jeffrey Bruma played very well. When everything is okay you can use these players more.

"They are in the squad because we have trust but we have to know also that they are young. We don't want to give them too much responsibility."

Instead he prefers to back the players who delivered the double last season and enjoyed a flying start to the current campaign, even if many of them are now in their 30s.

Ancelotti said: "Judge the Chelsea players now and you can say they are old, they have lost motivation, they are not good players... but we have to wait, calm down, and I am sure these are fantastic players because nothing changed in two or three months."