Pools lived to fight another day at the weekend when halting an eight-game winless run against relegation-haunted Bury.
Monkhouse, 32, hit a double in Saturday's 2-0 win to bring to an end Pools' barren run of 12 hours and 42 minutes without a goal, and although the side are still five points adrift of safety, the player has not given up hope.
"There's three games left. We'll give it our best and if it's good enough then great," said Monkhouse after Saturday's first win in nine matches.
"If not, and we have left it too late, then we only have ourselves to blame, really.
"Most people outside the club have had us down for a long time now, but with three games left we still have a chance.
"Winning this keeps the hope alive, so you never know.
"We could have gone down on Saturday and the lads were aware of that, but we're still in there fighting."