My question is quite a general one.
Can I use the width of the confidence interval (let's say a 95% confidence interval) to find out how confident my model is while doing time series forecasting? I am thinking that as we go on forecasting in the future, the width of the confidence interval increases, and maybe after a threshold we can say that model is not confident enough to do forecasting. Is this a correct line of thinking?
Otherwise is there any other way I can use to determine how confident my model is and hence how much further in the future I can forecast?