Watch the Slow Playalong: Variation 4 online guitar lesson by Tierra Negra from Magic Gypsy Chords & Rhythms
Place the capo at the 3rd fret.
Variation number 4 is harder to play. You have to stretch your fingers to get the first two chords sounding properly, because in the first chord your 1st finger is now in the 6th position and the 4th finger, in the 2nd chord, is on the 9th fret. Lean your shoulder a bit forward when you play the first two chords, then it´s more comfortable to stretch the fingers.
When you play the arpeggio, rest your thumb into each string.