Watch the Breakdown: Variation 1 online guitar lesson by Tierra Negra from Magic Gypsy Chords & Rhythms
Put the capo in the second position and start with variation 1.
The first chord is in the same shape as a 2nd position B-minor, but the capo makes it sound in the key of C#-minor.
Play the second chord, the A, by using the open strings. For the third chord mute the A-string here with your first finger, and you’ve got the G major chord with the open B- and E-string. Until here, the 3rd finger rests on the fret board on the D-string. The last chord is a F# 7/11 with open strings. For the third and fourth chord you have to touch the low E-string in the bass.
This arpeggio pattern in combination with this typical flamenco chord progression creates almost a little solo piece.