Watch the Breakdown: Variation 1 online guitar lesson by Tierra Negra from Magic Gypsy Chords & Rhythms
At first place your capo at the 2nd fret.
In variation 1 you have less movement in your left hand. Take care to keep your 2nd finger on the D-string the whole time.
I play the following arpeggio pattern, but please notice that there is a little variation in the arpeggio in the last bar (last chord).