here's an idea I haven't tested this code,

Code:
Dim objNS As NameSpace 
Dim objPF As MAPIFolder 
Dim objitem As Object 

'Set objNS = Application.GetNamespace("MAPI") 
'Set objPF = objNS.Folders("YourFolder") 
Set objitem = GetCurrentItem()


If objitem.Parent = "<YourFolder>" Then
   :
   'insert your code here
   :
End If