Here's a breakdown:
* The revelation: The story climaxes with Jim and Della revealing their gifts to each other. Jim, who sold his prized watch to buy combs for Della's hair, is shocked to find Della has cut her hair to buy a chain for his watch.
* The irony: The denouement lies in the realization that both Jim and Della have sacrificed something incredibly valuable to them for the other, but their gifts are now useless. The combs are for Della's long hair, which is gone, and the chain is for Jim's watch, which is also gone.
* The love: Despite the irony, the denouement highlights the profound love and selflessness of the characters. They both prioritized their partner's happiness over their own needs and were willing to make huge sacrifices. The story ends with the narrator stating: "But in a last word to the wise of these days, let it be said that of all who give gifts these two were the wisest. Of all who give and receive gifts, such as they are wisest. Everywhere they are wisest. They are the magi."
* The ending message: The denouement emphasizes the true meaning of giving – it's about the thoughtfulness and love behind the gift, not its material value. The story suggests that true love and sacrifice are the most valuable gifts we can offer.
The denouement leaves the reader with a feeling of bittersweet joy. We are saddened by the irony of the situation but also deeply moved by the love and sacrifice of the characters.