If $Z \neq \pm 1$ is a complex number and $\operatorname{Arg}\left(\frac{Z-1}{Z+1}\right)=\frac{\pi}{4}$,…
If $Z \neq \pm 1$ is a complex number and $\operatorname{Arg}\left(\frac{Z-1}{Z+1}\right)=\frac{\pi}{4}$, then the locus of $Z$ in the Arg and plane is