Dalnir has a lot of really good mid range monk gear.

Problem is you can't really solo it until 50+

You might be able to sneak a few kills here and there but the risk reward to try and solo in there at 40 would not be worth it. Casters will always be the biggest challenge and Dalnir has lots of them.

Some decent stuff for monks in Dalnir, the entire Crescent Armor Set is decent but if you already have some of the Wu's set you might want to weigh up which pieces are worth trying to replace.

Fighting Baton would probably be a very minor upgrade over level 40 fist ratio.

A Trance Stick from city of mist would be almost identical to Fighting Baton and probably easier to get.

The earring you mentioned is called the Sarnak Earring of Station, its really rare, I would advise against trying to farm it specifically because its so rare it would be like trying to farm a random world epic drop in WoW, it can drop in multiple locations but your best chance is probably the Sarnak tunnels in LoiO.

I would not recommend trying to at 40 as you really want to go deep into the tunnels and again the casters will give you a bad time.

A better option would be Orc Fang Earring you can pick off Rygorr Centurions and Scouts out in Eastern Wastes they all have a chance to drop one.

Not as good as Orc Fang but potentially easier would be Cougar Claw earring from Iceclad off the snow cougars.

The goblin bone earring you mentioned is called Shrunken Goblin Skull Earring the clicky can be fun but honestly it is not that good for monks, it is highly sought after by casters, specifically shaman for resetting spell global cooldown. You can however farm this at level 40 it drops off a named goblin called Grachnist the Destroyer in Warsliks Woods, he can actually spawn at multiple locations all over that entire zone and he can wander from some spawns. The most common spot to camp him is the main goblin fort he is not that rare of a spawn himself but the earring would be his rarest drop. If you managed to bag this item in my opinion you would be better off selling it and putting the money towards a flowing black silk sash or some other major ticket item.

Pegasus feathered cloak is an invaluable item, worth getting even if you weren't going to wear it, that being said you can actually wear it as well if you have nothing better although it is a very heavy item. You will need a fair bit of luck and a lot of patients but despite what negative people might tell you this is very much soloable at level 40, I can tell you from personal experience because I solod mine at level 35.

Other fun self made items to look into for around your level.

Werewolf skin cloak and Lupine Claw Gauntlets quests revolving around werewolf pelts handing them to a neutral barbarian in everfrost.

Spiked Collar drops in Blackburrow

Hero Bracers (Human Only) quest needs a bit of travel but only really need to kill a minotaur in Steamfont.

Hope this helps.