The Yorkshiremen have slipped down the table in recent weeks, saving their better form for the Capital One Cup, in which they have beaten Everton and Southampton in the last two rounds.
Asked where Leeds needed to be in the table come January to have a chance of challenging for promotion, Warnock said: "I don't think you can say in the Championship.
"I remember saying to (former Crystal Palace chairman) Simon Jordan a few years ago before I went there, because we were friends, that I felt the squad he had got was good enough to get promotion that year and at the time they were third from bottom.
"Then they appointed Iain Dowie straight after and went up in the play-offs, so I don't think you can write anybody off in the Championship because I don't think there's a particularly good team, there's teams that have got a lot of money that are up there, but even they're slipping up aren't they?
"If we can get our own house in order, to give us a fighting chance during the second half of the season - that's still my objective."